Cryolife (NYSE:CRY) Shares Down 5.5%

Cryolife Inc (NYSE:CRY)’s stock price dropped 5.5% during trading on Wednesday . The company traded as low as $27.96 and last traded at $28.82, approximately 583,723 shares traded hands during mid-day trading. An increase of 205% from the average daily volume of 191,495 shares. The stock had previously closed at $30.49.

CRY has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Cryolife from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. ValuEngine downgraded shares of Cryolife from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 15th. Needham & Company LLC restated a “hold” rating on shares of Cryolife in a research report on Sunday, May 12th. TheStreet downgraded shares of Cryolife from a “b-” rating to a “c+” rating in a research report on Wednesday, May 22nd. Finally, Canaccord Genuity restated a “buy” rating and issued a $35.00 price objective (up previously from $32.00) on shares of Cryolife in a research report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $31.91.

The firm’s 50-day moving average is $30.01. The company has a debt-to-equity ratio of 0.86, a current ratio of 4.90 and a quick ratio of 3.69. The company has a market cap of $1.13 billion, a P/E ratio of 110.85 and a beta of 0.59.

Cryolife (NYSE:CRY) last posted its quarterly earnings results on Tuesday, July 30th. The medical equipment provider reported $0.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.03. Cryolife had a negative net margin of 0.09% and a positive return on equity of 3.79%. The company had revenue of $71.14 million during the quarter, compared to the consensus estimate of $70.79 million. During the same period last year, the firm earned $0.10 EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, research analysts expect that Cryolife Inc will post 0.31 EPS for the current year.

In other news, Director Ronald D. Mccall sold 3,700 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $28.74, for a total transaction of $106,338.00. Following the completion of the transaction, the director now directly owns 139,162 shares of the company’s stock, valued at approximately $3,999,515.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Scott B. Capps sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $28.55, for a total transaction of $57,100.00. Following the transaction, the vice president now directly owns 141,079 shares of the company’s stock, valued at $4,027,805.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,609 shares of company stock valued at $2,797,863. Insiders own 4.40% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of CRY. Advisors Asset Management Inc. grew its stake in Cryolife by 75.1% in the 1st quarter. Advisors Asset Management Inc. now owns 1,965 shares of the medical equipment provider’s stock worth $57,000 after acquiring an additional 843 shares during the period. Quantamental Technologies LLC purchased a new stake in Cryolife in the 1st quarter worth approximately $75,000. BNP Paribas Arbitrage SA grew its stake in Cryolife by 1,945.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,404 shares of the medical equipment provider’s stock worth $216,000 after acquiring an additional 7,042 shares during the period. LPL Financial LLC purchased a new stake in Cryolife in the 4th quarter worth approximately $231,000. Finally, Piedmont Investment Advisors Inc. grew its stake in Cryolife by 5.9% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 8,602 shares of the medical equipment provider’s stock worth $251,000 after acquiring an additional 481 shares during the period. 71.10% of the stock is owned by institutional investors and hedge funds.

About Cryolife (NYSE:CRY)

CryoLife, Inc, together with its subsidiaries, manufactures, processes, and distributes medical devices and implantable human tissues for use in cardiac and vascular surgeries worldwide. The company operates in two segments, Medical Devices and Preservation Services. It offers BioGlue, an agent for cross-linking proteins for cardiac, vascular, pulmonary, and general surgical applications; On-X mechanical heart valves for aortic and mitral indications; cardiac preservation services; PhotoFix, a bovine pericardial patch for use in cardiac and vascular repairing activities; and PerClot, an absorbable powdered hemostat for use in surgical procedures, including cardiac, vascular, orthopedic, neurological, gynecological, ENT, and trauma surgeries.

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